#21 🍩 What the Health - A $10B Funding Record (yay), Research Commercialisation plays & Raises for days
We're back with your dish of health innovation deliciousness
Oh hey friend,
Happy Thursday. And happy 1 year to us! *High five WTH crew*
Apparently, I forgot the anniversary of this thing. But, it’s been a whole year. Wow. Beyond grateful 💜
Onto more important things…
Clearly, there’s been a little delay since our last roundup, but life got in the way. Sorry friends. Never fear - we’re back and thanks for your patience *tear*.
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Today’s WTH is brought to you by…
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Aussie Funding Fun
Cut Through Ventures with our friends at Folklore released a fab report on the state of startup funding.
The Aussie ecosystem more than tripled the funding of 2020 in 2021, hitting a record high of >$10B invested in startups 🔥 Here are a few of the health & bio companies who raised…
💵 $150m is going to the CSIRO Innovation Fund, managed by Main Sequence Ventures, to accelerate research commercialisation & industry collaboration (YAY!)
⌚️WearOptimo, who are developing affordable wearable health solutions bagged a multimillion investment and partnership deal with Aspen Medical
📱Andi Health raised a $600k pre-seed to build what it says is “the world’s first human health coach in your pocket” for its subscription-based health management solution
🔫 Euc announced another $60m ft US investors Bond Capital - and looks to expand to the UK and add a new class of obesity management pill to its ranks
📜 Hayylo, the Aged Care platform added some cool people & investment from Social Ventures Australia and Sprint VC
🍁 Blackthumb bagged $820k to help cannabis and food production teams scale their operations and meet sky-high demands
💻 Prospection added a new investment and partnership with Novotech
🧠 Samphire Neuroscience, a neurotech for women's health, says hello to the world ft. investment from Afterwork Ventures and HAX
💸 Harris Computers buys Allscripts’ for $950m
🪥 Restocq.com closed $2m funding round led by Airtasker co-founder for its procurement solutions platform as it looks to enter the dental consumables industry
🧘♀️ Inspiretek, the preventative wellbeing app for young athletes eyes the US and a big Series A off the back of a $2.5m seed
This could be one of my new favs. Watch this space
🧪 Minomic, a Prostate cancer testing biotech, is raising $10m to get to market before heading for the NASDAQ next year
💲LaunchVic appointed V-Ignite as the fund manager for the Victorian Startup Capital Fund and will raise at least $60m from investors to match the government’s cornerstone investment
💪 CapVest emerged the victor in a $706m deal for IVF operator Virtus Health
🤰Maternatity, Miscarriage and Paternity leave are hot topics…
Eucalyptus & Kin Fertility launched the #weneedmoreleave movement to change the government-mandated miscarriage leave from an appalling 2 days
Harrison.ai is implementing an awesome new “Becoming a parent policy” ft. support and financial aid for staff across all stages of the parenting journey
🏆Omniscient Neurotechnology’s “Quicktome” connectomic brain mapping platform got serious global recognition taking home SXSW’s Innovation Award
🥇Seer Medical snagged Startup of the Year and Currus Biologics got Best Newcomer at the first Governor of Victoria Startup Awards
🤝 BiomeBank teamed up with Hudson Institute of Medical Research to further the translation of microbial research
🔐 Health remains the sector with the most data breaches
📖 A report from AusBiotech & USYD dives into how Aussie Unis could be at the global forefront of research translation and commercialisation in health and medicine if barriers to collaboration are overcome and best practice models explored
📊A 2021 CSIRO report found that $1 of R&D investment creates an average of $3.50 in economy-wide benefits. The Science and Technology Australia (STA) is calling on gov to double down on its R&D investment and raise it to 3% of GDP
Australia’s R&D investment is 1.79% of GDP, below the 2019 OECD average of 2.48. Whilst leaders Israel and South Korea invest 4.93% and 4.64%
💉Researchers at the CSIRO have developed a technique to address the challenge of transporting temperature-dependent vaccines
🩺 The first study to examine GP’s billing experiences in Aus found they are ill-equipped to manage medicare compliance and calls for structural reforms
Infrastructure (Yes, I know…)
🐀 Planet Innovation and Lumos Diagnostics are setting up a $17.2 m Rapid Diagnostics Manufacturing Facility and Innovation Hub in Vic to make RATs - aiming to pump out 1 million tests this April
🏥 Westmead has a freshly minted $10m Innovation Ecosystem Fund to fuel innovation and collaboration in the hospital district
🌆 MTPConnect was appointed the Innovation and Translation Intermediary for Adelaide’s fancy new BioMed City (ABMC) health Innovation District
🏗 UNSW in building a killer Health Translation Hub to bring together researchers, clinicians, educators, students, industry partners and public health staff
🤖 Israeli-founded Data Science Group (DSG) lands in Melbourne to establish the (AI) Centre of Excellence (CoE)
US & Beyond the Borders
🔊 Patients can now take telehealth appointments through Amazon Alexa & Teladoc
🍔 Portugal will be the 1st country you can get 24/7 home healthcare by Uber eats
💊 True innovation often comes when people apply other methods to an industry…
And Mark Cuban is proving this in spades with his new generic drug company
🚀AWS launched its first healthcare accelerator cohort in the UK (When’s Aus hey?)
🤑 Biotech veterans reportedly raised $3B to create an org aiming to battle disease by reprogramming the machinery of living cells
🛒 Consumer and convenient healthcare heat up…
Walgreens announced that they would launch 200 co-branded clinics in 2022
🫀Elsevier released the most advanced 3D full first female model - marking the first time a female model has been built with this detail instead of just replacing male anatomy with female features
👩⚕️Uber Health is getting serious - hiring its first Chief Medical Officer
📲 Research shows 1 in 4 people >50 in the U.S. use at least 1 mobile health app… and they tend to be healthier and wealthier
CVS has filed to trademark its pharmacies & Health clinics in the metaverse ft experiences, retail and services. Yes. You heard that right…
Startup Stuff 🚀
Health, Wellness or Bio Startup keen for support and $50k funding?
LuminaX Health Accelerator is taking apps for its next 14-week program for high growth health startups
Keen to learn about research entrepreneurship and achieving research impact?
TRAMx Bootcamps provide an entry point for those who are keen to learn more and can help to get the ball rolling
Looking for support and mentorship for your Exec team as you scale?
LaunchVic’s new 30x30 program is here to provide free Exec education and mentorship to help startup teams grow and hit unicorn status
Female keen to test an idea you want to bring to life?
SBE Australia Explore Program supports women with an idea to bring it to life and helps you translate your brilliant idea into a scalable business
Developing an early-stage digital health business?
Check out the ANDHealth, Planet Innovation and REDI BRIGHT Innovate workshop to help digital health companies develop their business proof of concept
UNSW Alum, Student or Staff Member with a Startup?
UNSW Founders 10x is back ft funding and killer programs, but now with 3 streams: Info session on Mar 29
Bioelectronic concept or device and looking for help?
Neo-Bionica Technology Voucher Program (TVP) supports researchers, clinicians, startups, and collaborators to progress their bioelectronic concept or device to the next phase of development through a short collaborative project
Vic Medtech and Manufacturing business?
The gov has grants of up to $500k to give away under the new $3 million Medtech Manufacturing Capability Program
Bio or nature-inspired startup looking for funding?
The Ray of Hope Prize® identifies top global nature-inspired startups and fosters their growth by providing sustainable business training, communications support, and opportunities for up to 100k non-dilutive funding
Looking to hire from some of THE best-vetted talent in the ecosystem?
Startmate just launched their new talent program publically - and you can sign up now
Woman looking for a career change and keen to explore startups?
Check out the Startmate Womens Fellowship
Need some VC templates, Guides & Resources?
Airtree’s Open Source VC Resources got a revamp - you can find everything from Term sheets, to ESOP guides, lists of investors and more
Early-stage startup looking for funding and support?
USyd’s Genesis accelerator is in its final stages of applications
16th - 17th March: 11th Annual Australian Healthcare Week
Sat 19th March: HealthTech: Today and Tomorrow. Melbourne Design Week.
Tue 22nd March: BioForum - Translating Innovation: From Lab Bench to Marketplace
Fri 25th March: Make collaborative creative partnerships: Mapping Melbourne MedTech
29th - 30th March: Informa - eMedication Management Conference
29th March & 1st April: Make Virtual Care a Practical Reality
Tue 5th April: The Age Innovation Summit (Early bird pricing until 31/12/21)
Tue 5th April: BioSymposium: Optimizing the Victorian Medtech Ecosystem
5th - 7th April: BRIGHT Innovate Workshop (Virtual)
Wed 13th April: 2022 Industry Update – Investment & Funding
EOI: 2022 Health & Biomedical Researcher Development Program
Cool Content 💎
🔊 Not Boring: Fount and the Body's Magical Future - The Mad Scientist Running the Elon Musk Company Formula on Health & Performance
IF YOU LISTEN TO/READ ONE THING THIS WEEK MAKE IT THIS
❓The Medical Futurist asked the question many ponder…
📚 Pete Lead released: The Startup Guide. An insider's guide to winning startup weekends and hackathons
🤦🏼♀️ Squarepeg wrote a great thing on Why VC funding for women has been dismal and what we can do about it (there’s also office hours)
📝 BCG released their The Future of Digital Health Report: 2022 Health Care Innovation Predictions
🔮 Deloitte also did one on Australia's Health Reimagined: The journey to a connected and confident consumer
😥 Why So Many Women Physicians Are Quitting… Don’t think its a real shock for anyone, but it’s stupidly sad
💼 Jobs 💼
Looking for a new gig? Or keen to find legends to join your crew?
Check out our Aussie Health Innovation Jobs & Opportunities Board. You can post for free (or opt for a feature too)
Thats all amigos
To all those at Aussie Healthcare Week - sadly I won’t make it today after all 💔